Asian Tech Press (Sep 14) -- U.S. lidar technology company Ouster Inc (OUST: New York) announced Monday that it has signed an agreement with Chinese autonomous driving company Juzhen Data Tech to supply digital lidar sensors for its electric delivery vehicles.

Ouster expects to supply 1,190 digital Lidar sensors by 2025 and said Juzhen plans to install the sensors in its electric delivery vehicles to help enable autonomous driving capabilities when fully autonomous delivery vehicles are deployed on public roads.

The lidar firm's shares surged nearly 3% intraday Monday to as high as $8.06 and closed down 1.28% at $7.71. As of press time, it was up 3.63% at $7.99 per share in pre-market Tuesday.